CanAsia Industries Corporation
OTC Bulletin Board : CANSF

CanAsia Industries Corporation

December 23, 2009 03:01 ET

Canasia Industries Corporation: Bulk Sample Update on Clone Gold Discovery

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Dec. 23, 2009) - Canasia Industries Corporation ("CAJ") (TSX VENTURE:CAJ)(FRANKFURT:45C)(OTCBB:CANSF) wishes to announce that it has been notified by its partner that the application has been completed for an initial bulk sample operation on the Clone Gold Prospect. The Clone Gold Prospect in Stewart BC, recently returned grades as high as 44.75 g/t over 12.8 metres (announced October 22, 2009). Approximately ten tons of samples have been gathered to date and were shipped for processing.

Negar Towfigh, President of Canasia stated, "The results for the 2009 drill program on the Clone were the best that Canasia has drilled to date and the drilling was near surface. This initial bulk sample may assist Canasia in further defining the size of the potential deposit and it may also aid in possibly generating initial revenue from the Clone Prospect. Canasia plans to conduct a larger drill program in 2010 on the Clone Prospect, than it did in 2009, due to the results achieved this past drill season. We are continuing operations on the Clone and we also anticipate being active on multiple other prospects in early 2010.

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Canasia Industries has a well diversified portfolio of prospects. Canasia's current prospects include the following: (a) The Clone Gold prospect in Stewart, BC, that has recently returned grades as high as 44.75 g/t Ag over 12.80 metres (announced October 22,2009); (b) The Debut Gold prospect in NE Nevada where Kinross Gold is now actively drilling; (c) 55,300 contiguous acres at Reed Lake, Manitoba; (d) 450,000 contiguous acres of Potash claims, bordering Alberta and Saskatchewan; (e) 130,500 acres prospective for Coal in SE Saskatchewan; (f) 180,000 acres prospective for Lithium in Alberta; (g) and three mineral claims covering an area of approximately 31,602 hectares, located north and northwest of the El Oro -- Tlalpujahua Gold/Silver belt in the states of Guanajuato and Michoacan Mexico.

Graeme Sewell, Director

Canasia Industries Corporation

This press release contains projections and forward-looking information that involve various risks and uncertainties regarding future events such as generating any revenue or defining a deposit size. Such forward-looking information can include statements based on current expectations involving a number of risks and uncertainties and are not guarantees of future performance of the Company such as current economic conditions and the state of mineral exploration and mineral prices in general. These risks and uncertainties could cause actual results and the Company's plans and objectives to differ materially from those expressed in the forward-looking information. These and all subsequent written and oral forward-looking information are based on estimates and opinions of management on the dates they are made and expressly qualified in their entirety by this notice. Except as required by law, the Company assumes no obligation to update forward-looking information should circumstances or management's estimates or opinions change.

Neither the TSX Venture Exchange Inc. nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange Inc.) accepts responsibility for the adequacy or accuracy of this press release.

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